%h5 Social Housing VISA Investment

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      Social Housing VISA Investment
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    %label.title-label{style:"padding-top: 80px"} Social Housing VISA Investment
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      This investment will be into a newly created Irish Limited Liability Partnership which will acquire approved Irish properties rented on a 25 year basis to local government agencies in Ireland. Key attributes of the investment include:
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        %li Minimum annual rental investment return of 4% per annum, after property holding and management costs;
        %li Rent paid will be reviewed every three years in line with inflation in Ireland;
        %li An independent General Partner will be appointed to manage the investment on behalf of the visa investor; and
        %li Investors have the option of holding the investment for the duration of the lease or selling their interest in the property after three years. Property is a long term investment and it is recommended that the investment is held for three years at a minimum.

%label.title-label APPLICATION AND INVESTMENT PROCESS
%p To facilitate the visa process a “one-stop-shop” approach has been developed. The applicant will, as part of the process, have to deal with only one person during the application stage and will be advised by a third party legal firm on the legal issues associated with their investment. The fee structure is clearly defined and the investor only needs to make the €1 million investment once their visa application has been approved by INIS. This investment has been developed for Irish visa approval and takes account of the needs of the international investor. The investment is secured by a fixed charge on the physical asset let to a department of the Irish Government. The investor will be able to exit the investment at any stage after year three but retain a permanent visa. An independent Trustee company will act as general partner to the limited partnership protecting investors interests post investment.

%label.title-label INVESTMENT STRUCTURE
%p The Visa Investment is intended to be made into a newly created Irish Limited Liability Partnership in the form of partner capital contribution (the “Partnership”). The Partnership will raise investments from visa investors and will immediately acquire approved Irish properties. These approved properties be let to departments within the Irish local government under a long term lease for use as social housing.

%label.title-label BUSINESS CASE
%p Social housing is defined as housing provided by the State, paid for by the State for citizens who meet certain criteria. Demand for this type of housing in Ireland is currently at a record high and there are nearly 100,000 households on waiting lists and in need of social housing support. The Irish Government’s supply of housing stock for social housing is not meeting demand. Every local government authority in Ireland has property owned by the State Agencies or there are sites for which planning permits have been granted but for which the State does not have the capital to develop. It is proposed that this investment would help fund the construction and supply of social housing in Ireland.

%label.title-label TERMS OF LEASE WITH IRISH LOCAL GOVERNMENT
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  The legal terms of the lease will be subject to detailed independent legal review by an Irish Law firm acting on behalf of the visa investors. Summary commercial terms of the lease are outlined below:
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    %li Tenant will be an Irish local government;
    %li Initial rent will be fixed to provide a rental return of at least 5% gross per annum, being 4% to the investor net of property and management costs;
    %li Rent will be reviewed every three years in line with Irish inflation during the period;
    %li The landlord will be responsible for insurance and limited maintenance of the property; and
    %li There will be no breaks in the lease.
  Detailed documentation on the location and profile of the property will be provided in an Information Memorandum as part of the visa application process. Legal documentation will be entered into and reviewed by lawyers acting forthe investor prior to completing the investment.

%label.title-label RISK MITIGATION
%p The structure of the investment is such that the investor buys into a “turnkey project” where the construction risk of providing the property to the local government (Irish Government agency) is taken by the Promoter. In addition the lease contract from the local government will be in place when the investment is made by the investor.
%p The investment will only take place once the visa has been approved by INIS and all legal documentation has been reviewed and approved by legal advisors acting for the investor.The rights of the investors will be protected under a limited partnership agreement. An independent third party, Wealth Options Trustee Limited, will act as General Partner to the limited partnership. The title of the property will be registeredin the name of the partnership and cannot be sold without the consent of the partners.As part of their role, the independent General Partner will oversee the property management and report to the investors during the period of their interest in the property.

%label.title-label ADDITIONAL INFORMATION
%p Cashflows, projections, pictures of the property and archtectural drawing are contained in a supplementary document which will be supplied to the investor once interest is expressed. An investment memorandum and parnership agreement will be produced by Wealth Options Trustee Limited once the application has been made to the INIS.

%label.title-label EXIT OPTIONS
%p After three years the investor is free to sell their interest in the property. This investment is expected to appeal to pension funds or other property investors looking for long term stable income streams. In order to minimise the risk to the investors it is planned that there will be no bank debt in the partnership during the three years of the investment. Thereafter, the investors may decide to source bank debt on the rental income. Given the reliability of the tenant, bank debt should be readily available and could return 50% to 70% of the investor’s capital without requiring a sale of the project.
